Legal Question in Wills and Trusts in Pennsylvania
19 hours ago
Details
My grandfather who raised me Co signed on a auto loan and personal loan before he passed away two years ago the loans are in NY where I reside and his estate is in PA his estate has contacted my bank and is trying to get final payoff amounts for the loans . My question is if they do this can they legally hold the amount paid against my inheritance since he was a Co signer or can they only hold half against me ? I've been told they need the information for the final accounting of the estate even though I've never asked them to pay off these loans .
1 Answer from Attorneys
The estate could do this because your grandfather is liable. It would be possible for the estate to be closed and for you to default, thereby necessitating a re-opening of the estate. The only way to avoid this is that you either refinance the loan solely in your name, find another co-signer or pay off the loan using your portion of the inherited funds.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
